The Green Mile & How to Avoid It
Accountants are spending time on the wrong end of the problem. The Last Mile or the Green Mile is not where you want to be in the age of Web 3.0 – https://en.wikipedia.org/wiki/The_Green_Mile_(film)
It’s time for us to start to learn how to think like an engineer. Accounting is an engineering problem. https://accziom.com/seattle-method/
Open Ledger Partnership can facilitate the introduction of a learning program and tools to the accounting & bookkeeping communities. We are already engaging with the professional bodies which is great!
Something like this for SME Controls Auditors – https://accziom.com/sarbanes-oxley-internal-controls/ but with a big focus on the engineering piece. Using prior art where-ever possible and extending along wider narrower with consensus from a collaborative.
Opportunity for complex control sets to be fabricated and linked to NFT’S. Open marketplace for products & services.
It’s reasonable that Logical Accounting and Logical English are tightly aligned https://github.com/LogicalContracts/LogicalEnglish . Tax offices will use this. Also, as I understand, AuditChain Pacioli will be open-sourced.
Below map is how most SME software systems are configured. But we actually need more information –
Contributions from equity owner
Drawings by equity owner
Revenues or expenses
Gains or losses
And clean naming semantics on account line items.
https://webbrain.com/brainpage/brain/527C663B-D74F-E9E2-31FE-C080D853CE9A#-1 theBrain software was used – https://www.thebrain.com/
While it will be good to involve professional bodies, it’ll be better to allow consensus groups to form naturally from within professional bodies to agree to use certain technical components and ideas . i.e. a consensus group might start with signing an agreement against a Standard that’s ready to roll – http://xbrlsite.azurewebsites.net/2020/reporting-scheme/xasb/documentation/Home.html .
Network states are going to need these technical accounting approaches & technologies . https://1729.com/ . https://accziom.com/what-is-ark-x-manifesto/ is my initial ideas on a network state for merchants.